Hong Kong to speed up approvals for hedge funds

Hong Kong to speed up approvals for hedge funds

The Securities and Futures Commission (SFC) plans to make it easier for hedge fund start-ups to set up in Hong Kong.

According to executive Director Alexa Lam, proposed changes include streamlining and speeding up application procedures and addressing concerns about the difficulty of the entry test administered by the Hong Kong Securities Institute and the short deadline for passing the exam.

Lam said the SFC will consider extending the deadline and could scrap the requirement entirely on a case-by-case basis.

Also being considered is a relaxation of work-experience conditions for "responsible officers" of authorised funds.